Watch These Palantir Price Levels as Stock Jumps After Guidance Boost

Palantir Technologies (PLTR) shares jumped successful extended trading connected Monday aft nan information analytics institution topped Wall Street’s quarterly estimates and raised its full-year outlook amid beardown request for its artificial intelligence (AI) package services.

The shares person gained much than 40% since nan commencement of nan year, benefiting from a increasing number of endeavor customers turning to nan Colorado-based company’s AI level to test, debug, and measure AI-related systems.

Palantir shares roseate 12% to $27.02 successful after-hours trading Mondday.

Below, we return a person look astatine Palantir’s technicals and place important value levels to watch retired for pursuing nan company’s expected post-earnings move.

Pre-Earnings Reversal

Palantir shares person trended steadily higher since carving retired an inverse caput and shoulders pattern betwixt September 2022 and May past year. Although nan banal has precocious undergone a pullback, buyers stepped successful to take sides nan value astir nan 200-day moving mean and nan April swing low up of nan company’s quarterly results.

While nan shares weren’t immune to Monday’s sell-off, they staged an awesome intraday reversal connected nan highest trading volume since early May to adjacent towards their precocious of nan time aft initially opening 12% lower, indicating larger marketplace participants whitethorn person anticipated a large earnings-driven move.

Monitor These Price Levels Amid Post-Earnings Buying

Looking ahead, investors should show these cardinal floor plan areas wherever Palantir shares could look trading unit amid a post-earnings pop.

The first sits betwixt $27 and $29, a location wherever nan shares could tally into a zone of resistance from 2 trendlines connecting aggregate swing highs extending arsenic acold backmost arsenic December 2020.

A adjacent supra this level could spot a move up to nan $39 level, an area wherever sellers whitethorn beryllium happy to lock successful profits adjacent nan February 2021 plaything high, which formed astatine nan commencement of a two-year down trending play successful nan banal betwixt 2021 and 2023.

A much bullish move whitethorn lead to a retest of nan $45 region, wherever nan value would apt brushwood guidance astir its record high set-in precocious January 2021.

Finally, we tin forecast a target supra nan all-time precocious (ATH) utilizing a bars shape by analyzing anterior trending moves successful nan stock. In this case, if we extract nan bullish play from May to August past twelvemonth and use it from nan April plaything low, we tin task a price target of astir $50.50.

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